Staking, strategy, and why BitMine may not sell

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Roughly 2 million ETH in BitMine’s treasury is currently staked, earning about 2.8% annually. That yield would disappear immediately if the company exited—and more importantly, Ethereum’s validator exit queue means those tokens can’t be sold instantly, potentially delaying withdrawals for weeks.

While that delay could soften the immediate price impact, it would also extend uncertainty, encouraging traders to front-run the expected supply overhang. Strategically, a sale would also dismantle BitMine’s core thesis as an “Ethereum supercycle” play, including its planned Made-in-America validator network set for 2026.

For shareholders, capitulation could worsen BMNR’s stock decline and damage Tom Lee’s credibility as one of Ethereum’s most vocal long-term bulls. For now, selling remains the nuclear option—one that stops the bleeding, but at the cost of crystallized losses, market disruption, and the abandonment of BitMine’s entire strategy.

[johnblockbuster]

lowkey wonder if traders are already front-running any potential bmnr sell-off, feels like a minefield for eth price